Financial Performance - The company's revenue for Q1 2022 was ¥88,568,552.40, a decrease of 28.70% compared to ¥124,224,720.50 in the same period last year[3]. - The net profit attributable to shareholders was a loss of ¥5,044,107.71, representing a decline of 147.95% from a profit of ¥10,520,047.15 in the previous year[3]. - The net profit for the current period is a loss of ¥5,609,380.97, compared to a profit of ¥10,520,047.15 in the previous period[28]. - The total profit for the current period is a loss of ¥4,635,482.60, down from a profit of ¥10,522,886.20 in the previous period[28]. - Basic earnings per share for the current period is -0.0012, compared to 0.0025 in the previous period[31]. - Total operating revenue for the current period is ¥88,568,552.40, a decrease of 28.8% compared to ¥124,224,720.50 in the previous period[25]. - Total operating costs for the current period are ¥94,964,133.14, down from ¥112,578,513.22, reflecting a reduction of 15.7%[25]. Cash Flow - The net cash flow from operating activities was negative at ¥69,549,510.26, a decrease of 214.29% compared to ¥60,855,427.78 in the same period last year[3]. - Operating cash inflow for the period was CNY 131,645,870.57, a significant increase from CNY 71,664,552.70 in the previous period[32]. - Cash outflow from operating activities totaled CNY 201,195,380.83, compared to CNY 10,809,124.92 in the prior period, resulting in a net cash flow from operating activities of CNY -69,549,510.26[32]. - Cash inflow from investment activities was CNY 50,230,362.03, up from CNY 83,330.03 in the previous period[34]. - Cash outflow from investment activities reached CNY 636,269,847.75, compared to CNY 412,900,959.12 in the prior period, leading to a net cash flow from investment activities of CNY -586,039,485.72[34]. - Cash inflow from financing activities was CNY 3,340,000.00, while cash outflow totaled CNY 3,882,582.37, resulting in a net cash flow from financing activities of CNY -542,582.37[34]. - The net increase in cash and cash equivalents for the period was CNY -656,568,792.07, compared to CNY -399,856,240.07 in the previous period[34]. - The ending balance of cash and cash equivalents was CNY 193,321,518.72, down from CNY 474,985,455.26 in the prior period[34]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥1,340,161,749.19, a slight decrease of 0.23% from ¥1,343,222,885.74 at the end of the previous year[3]. - Total current assets at the end of the reporting period amounted to CNY 1,220,291,806.55, a decrease from CNY 1,256,018,990.68 at the beginning of the year[14]. - Total non-current assets increased to CNY 119,869,942.64 from CNY 87,203,895.06[17]. - Total liabilities amount to ¥161,440,565.89, a decrease from ¥172,680,980.88 in the previous period[21]. - Total equity attributable to shareholders of the parent company is ¥1,171,223,955.28, an increase from ¥1,165,819,403.58 in the previous period[21]. Inventory and Expenses - The company's inventory increased by 45.29% to ¥191,912,890.48, primarily due to increased raw material purchases[6]. - The company incurred sales expenses of ¥3,202,906.57, significantly higher than ¥303,069.58 in the previous period[25]. - Research and development expenses for the current period are ¥142,323.02, indicating ongoing investment in innovation[25]. - The company's sales expenses surged by 956.82% to ¥3,202,906.57, attributed to the inclusion of subsidiary sales expenses not previously consolidated[6]. Financial Assets and Liabilities - The company reported a significant increase in financial assets, with trading financial assets rising by 1766.52% to ¥595,777,009.28, mainly due to the purchase of bank wealth management products[6]. - The company experienced a 1013.89% increase in contract liabilities to ¥14,764,765.97, primarily due to increased prepayments for lithium iron phosphate goods[6]. - The company reported a decrease in credit impairment losses by 42538.70% to ¥573,810.32, reflecting improved collection of receivables[6]. - The company reported a significant increase in trading financial assets to CNY 595,777,009.28 from CNY 31,919,200.00[14]. Shareholder Information - The top ten shareholders hold a total of 1,000,000,000 shares, with the largest shareholder holding 6.39%[12]. - The company has no reported financing or margin trading activities among the top shareholders[13].

Business Model and Strategy - The company reported a significant business model shift, establishing a dual main business model of "cashmere business + industrial investment" after restructuring in 2019[24]. - The company has a focus on expanding into the new energy lithium battery materials industry, reflecting its strategic growth direction[24]. - The company’s strategy includes a dual main business model focusing on cashmere and new energy lithium battery materials, aligning with national policies and development goals[56]. - The company aims to enhance its competitive and profitability capabilities in the lithium battery sector through the implementation of its expansion plans[47]. - The company has established a dual main business model focusing on cashmere business and industrial investment, aiming to explore investment and acquisition opportunities in both related and cross-industry sectors[62]. - The company is committed to enhancing product quality and developing new products and processes to improve profitability[142]. - The company is focusing on expanding its market presence and enhancing its product offerings through strategic management changes[165]. Financial Performance - The company's operating revenue for 2021 was ¥433,495,168.53, representing a 206.21% increase compared to ¥141,569,708.11 in 2020[25]. - The net profit attributable to shareholders for 2021 was ¥40,874,329.77, up 23.80% from ¥33,015,544.31 in 2020[25]. - The net profit after deducting non-recurring gains and losses was ¥23,520,014.45, a significant increase of 1,616.77% from -¥1,550,664.95 in 2020[25]. - The net cash flow from operating activities improved to ¥21,697,001.85 in 2021, a 151.54% increase from -¥42,097,210.38 in 2020[29]. - The total assets at the end of 2021 were ¥1,343,222,885.74, an increase of 8.42% from ¥1,238,886,856.84 at the end of 2020[29]. - The net assets attributable to shareholders at the end of 2021 were ¥1,165,819,403.58, up 3.26% from ¥1,129,040,967.60 at the end of 2020[29]. - The basic earnings per share for 2021 were ¥0.0097, reflecting a 25.97% increase from ¥0.0077 in 2020[29]. - The company achieved a total operating revenue of 433.50 million yuan, an increase of 206.21% compared to the previous year[66]. - The operating cost was 353.37 million yuan, up 197.02% year-on-year, resulting in a gross margin of 18.48%, which increased by 2.52%[66]. - The textile industry contributed 66.87% of total revenue, amounting to 289.89 million yuan, with a year-on-year growth of 107.25%[69]. - The new energy sector, primarily from lithium iron phosphate sales, generated 143.61 million yuan, accounting for 33.13% of total revenue[69]. Investments and Acquisitions - The company engaged in mergers and acquisitions to enter the new energy lithium battery materials sector, expanding its business beyond cashmere products[41]. - The company entered the lithium iron phosphate industry through acquisition in March 2021, with a subsidiary capable of producing 4,200 tons annually, and plans to establish an 80,000-ton production project[47]. - The company has invested in the lithium battery materials sector, establishing partnerships and acquiring stakes in related companies to capitalize on the growth opportunities in the new energy industry[56]. - The company has invested 25 million yuan in Ningbo Liwen Energy Storage System Co., Ltd., acquiring a 2.2727% stake, focusing on the application of lithium iron phosphate batteries in light vehicles[60]. - The company completed the acquisition of Doujiangyan Juhe New Materials Co., Ltd. for 42,000,000.00 CNY, achieving 100% ownership[104]. - The company has completed the acquisition of 100% equity in Sichuan Xinrui Heng Lithium Energy Technology Co., Ltd. for 50,000,000.00 yuan[114]. - The company has acquired two subsidiaries, Sichuan Ligu New Energy Technology Co., Ltd. and Dujiangyan Juhengyi New Materials Co., Ltd., which are expected to have a significant impact on overall operations[136]. Market and Industry Trends - The cashmere industry showed signs of recovery in 2021, with increased demand and stable prices following the pandemic's impact in 2020[42]. - The demand for lithium-ion battery materials is driven by the rapid development of the new energy vehicle industry and the increasing need for energy storage in renewable energy sectors[45]. - The domestic lithium iron phosphate (LFP) battery installation volume reached 79.8 GWh in 2021, accounting for 51.7% of the total, with a year-on-year growth rate of 227.4%, four times that of ternary batteries[47]. - The shipment volume of lithium iron phosphate materials in China was 12.4 million tons in 2020, representing a year-on-year increase of 41%, and exceeded 17.8 million tons in the first half of 2021[47]. - The company aims to expand its lithium iron phosphate capacity while facing increased competition from other industry players[142]. Governance and Management - The company maintains independence from its controlling shareholder, ensuring autonomous business operations and decision-making[148]. - The company has established an independent production and operational system, ensuring no reliance on shareholders or related parties for production[149]. - The board of directors and supervisory board operate independently, ensuring effective governance and management[149]. - The company has a complete organizational structure that aligns with its operational needs, promoting efficient management[149]. - The company has established a robust internal governance structure in compliance with the Company Law and its articles of association[149]. - The company held a shareholder meeting on May 18, 2021, to elect new board members due to the expiration of the seventh board's term[162]. - The current board includes independent directors Zhang Gang and Wang Xinyuan, with terms expiring in May 2024[162]. - The company is committed to maintaining transparency and effective governance during this transition period[165]. Future Outlook - In 2022, the company will continue to optimize its cashmere business and expand its new energy industry to achieve rapid growth in revenue and profit[137]. - The company plans to restore and expand its cashmere product export market while adopting flexible cashmere storage strategies based on market conditions[137]. - The first phase of the new project aims to establish a production line with an annual capacity of 20,000 tons of lithium iron phosphate, with preparations underway[140]. - The company has outlined a strategic goal to achieve a 15% market share in the luxury cashmere segment by 2025[180]. - The company plans to establish an investment management center for new energy materials in Chengdu[200].

Financial Performance - The company's operating revenue for Q3 2021 was ¥114,203,211.87, representing a year-on-year increase of 1,121.39%[4] - The net profit attributable to shareholders for the same period was ¥14,770,946.72, up 69.15% compared to the previous year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses reached ¥6,096,260.42, reflecting a significant increase of 336.10% year-on-year[4] - The basic earnings per share for Q3 2021 was ¥0.0035, an increase of 75.00% compared to the same period last year[4] - Total operating revenue for the current period reached ¥296,325,034.55, a significant increase from ¥50,009,930.58 in the previous period, representing a growth of approximately 492.6%[38] - Net profit for the current period was ¥39,348,520.65, up from ¥16,168,988.01 in the previous period, reflecting an increase of approximately 143.2%[41] - The profit attributable to the parent company's shareholders was ¥38,600,027.54, compared to ¥16,168,988.01 in the previous period, marking a growth of around 138.0%[41] - Basic earnings per share for the current period were ¥0.0091, compared to ¥0.0038 in the previous period, showing an increase of 139.5%[44] - The total comprehensive income for the current period was ¥38,590,080.00, compared to ¥14,812,386.70 in the previous period, indicating an increase of approximately 160.7%[41] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥1,241,094,713.75, showing a slight increase of 0.18% from the end of the previous year[4] - Total liabilities increased to ¥122,022,673.96 from ¥109,845,889.24, representing a rise of approximately 10.0%[34] - Total equity attributable to the parent company decreased to ¥1,116,329,400.01 from ¥1,129,040,967.60, a decline of about 1.1%[34] - Non-current liabilities totaled ¥24,558,918.85, with a notable increase in lease liabilities amounting to ¥12,357,778.78[34] Cash Flow - The company reported a net cash flow from operating activities of ¥35,112,152.05, which is a 492.53% increase year-to-date[4] - Operating cash inflow for the current period was ¥285,703,001.83, a decrease of 16.66% from ¥342,779,221.88 in the previous period[45] - Net cash flow from operating activities was ¥35,112,152.05, compared to a negative ¥60,194,506.55 in the previous period, indicating a significant recovery[45] - Cash inflow from investment activities totaled ¥319,717,085.18, a substantial increase from ¥31,595,061.28 in the previous period[48] - Net cash flow from investment activities was negative at ¥544,598,964.61, slightly worse than the previous period's negative ¥522,830,399.76[48] - Cash inflow from financing activities was ¥5,000,000.00, down from ¥614,011,450.83 in the previous period, reflecting a significant decline[48] - Net cash flow from financing activities was negative at ¥73,749,029.57, compared to a positive ¥613,179,429.83 in the previous period[48] - The ending balance of cash and cash equivalents was ¥291,233,317.58, down from ¥408,100,066.97 in the previous period[48] - The company received cash from the recovery of investments amounting to ¥313,862,812.43, a notable increase from ¥30,000,000.00 in the previous period[45] - Cash paid for purchasing fixed assets and other long-term assets was ¥12,271,669.82, a decrease from ¥14,425,556.73 in the previous period[48] - The company reported a significant decrease in cash paid to employees, totaling ¥13,087,901.60, down from ¥43,398,861.87 in the previous period[45] Investments and Acquisitions - The company plans to invest in and acquire 100% equity of Dujiangyan Juheng New Materials Co., Ltd. and 80% equity of Sichuan Ligu New Energy Technology Co., Ltd. to expand its business beyond cashmere[21] - The company established three new entities in Shanghai to engage in battery swapping business for electric vehicles, enhancing its profitability and sustainable development capabilities[23] - The company invested RMB 25 million in Ningbo Liwei Energy Storage System Co., Ltd., acquiring a 2.2727% stake to expand its business beyond cashmere[27] - The company sold its 31.25% stake in Beijing Yongjing Cashmere Co., Ltd. for RMB 53.5965 million, with the transaction completed on August 3, 2021[24] - The company completed the capital increase and equity transfer procedures for Dujiangyan Juheng New Materials Co., Ltd. by October 18, 2021[21] - The company completed the registration of the equity transfer of Yongjing Cashmere on August 2, 2021[24] Shareholder Information - The top ten shareholders hold a total of 1,000,000,000 shares, with the largest shareholder, Ningxia Zhongyin Cashmere International Group Co., Ltd., holding 400,000,444 shares[19] - The company’s top ten shareholders do not participate in margin trading activities[19] - The company repurchased a total of 43,189,115 shares, accounting for 1.013% of the total share capital, with a total expenditure of approximately RMB 50.55 million[20] - The company’s repurchase plan was executed in compliance with relevant laws and regulations, with a maximum repurchase price of RMB 1.68 per share[20] Corporate Governance - The company’s board of directors and supervisory board were re-elected on April 27, 2021, with a total of nine members in the new board[20] - The company successfully applied to lift the delisting risk warning, with its stock name changed from "*ST Zhongrong" to "Zhongyin Rongye" on June 8, 2021[22] Inventory and Receivables - The company's accounts receivable increased to RMB 74.16 million from RMB 63.45 million year-over-year[28] - Inventory as of September 30, 2021, was RMB 149.05 million, up from RMB 123.22 million at the end of 2020[31] - The company’s non-current assets increased to RMB 60.59 million from RMB 52.07 million year-over-year[31] - Total assets as of September 30, 2021, were RMB 1.24 billion, slightly up from RMB 1.24 billion at the end of 2020[31]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 182,121,822.68, representing a 347.92% increase compared to CNY 40,659,640.29 in the same period last year[35] - The net profit attributable to shareholders of the listed company was CNY 23,829,080.82, up 220.44% from CNY 7,436,463.28 year-on-year[35] - The net profit after deducting non-recurring gains and losses was CNY 16,093,825.71, a significant increase of 1,868.29% compared to a loss of CNY 910,133.52 in the previous year[35] - The net cash flow from operating activities was CNY 28,471,243.08, recovering from a negative cash flow of CNY 202,085,279.47 in the same period last year, marking a 114.09% improvement[35] - Basic earnings per share were CNY 0.0056, an increase of 229.41% from CNY 0.0017 in the previous year[35] - The total profit for the reporting period was 2.52 million yuan, up 231.29% year-on-year, while the net profit attributable to shareholders was 2.38 million yuan, an increase of 220.44%[56] Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,224,961,142.43, a slight decrease of 1.12% from CNY 1,238,886,856.84 at the end of the previous year[35] - The net assets attributable to shareholders of the listed company were CNY 1,101,472,561.00, down 2.44% from CNY 1,129,040,967.60 at the end of the previous year[35] - The company’s cash and cash equivalents decreased to ¥253,260,278.73, representing 20.67% of total assets, down from 70.62% last year[70] - The company’s total operating costs increased by 322.58% year-on-year, reaching ¥138,596,162.19 in the textile sector[66] - The company’s investment in trading financial assets reached ¥599,260,682.73, accounting for 48.92% of total assets, indicating a strategic shift towards financial investments[70] Business Operations - The main business activities include cashmere and cashmere product trading, with a focus on controlling raw cashmere supply and enhancing market competitiveness[45] - The company has entered the new energy lithium battery materials sector, investing in multiple companies to establish a dual main business model of "cashmere business + industrial investment"[47] - The company acquired stakes in Chengdu Xiangheng New Energy Materials and Sichuan Ligu New Energy Technology, focusing on lithium battery anode and cathode materials production[47] - The company aims to leverage its international sales network established through previous acquisitions to quickly restore customer relationships and drive business growth[46] - The company plans to enhance its product offerings and optimize production processes in the lithium battery sector through collaborative research and development efforts[48] Investments and Acquisitions - The company invested 9 million CNY for a 72% stake in a third-party medical laboratory specializing in gut microbiome gene testing[50] - The company also invested 25 million CNY in Ningbo Liwen Energy Storage Systems, focusing on lithium iron phosphate battery applications in light vehicles[50] - The company has completed a significant acquisition of 100% in Sichuan Lithium Ancient New Energy Technology Co., Ltd. for ¥80,000,000.00[82] - The company has also completed an acquisition of 100% in Aidefansi (Beijing) Medical Testing Laboratory Co., Ltd. for ¥90,000,000.00[82] - The company has invested 34 million yuan in two enterprises, Aide Fanshi and Ningbo Liwei Energy, as part of its dual main business model of "cashmere business + industrial investment"[55] Risk Management - The company emphasizes the importance of risk awareness regarding future plans and strategies, indicating potential uncertainties[6] - The company is facing risks due to a slowdown in the cashmere industry, with a decrease in raw material demand and a significant number of local cashmere enterprises halting production or going bankrupt[97] - The company is expanding into the new energy sector through the acquisition of a lithium battery materials company, but faces risks related to profitability fluctuations and market expansion challenges[97] - The company has established a dual main business model of "cashmere business + industrial investment" to mitigate risks from new business developments[97] Corporate Governance - The company has committed to maintaining the independence of the listed company in terms of assets, personnel, finance, business, and organization, with the commitment being effective since December 24, 2019, and currently being fulfilled[120] - The controlling shareholder, Hengtian Jinshi Investment Management Co., Ltd., has promised that the pre-tax profit of Juhengyi will not be less than RMB 8 million for the year 2021 and not less than RMB 10 million for the year 2022, with the commitment period being two years starting from March 30, 2021, and is currently being fulfilled[123] - The company has no non-operating fund occupation by controlling shareholders or other related parties during the reporting period[126] - There are no significant litigation or arbitration matters during the reporting period[130] - The company has not engaged in any external guarantees during the reporting period[127] Shareholder Information - The largest shareholder, Ningxia Zhongyin Wool Industry Co., Ltd., holds 9.39% of the shares, with a total of 400,000,444 shares[173] - The second-largest shareholder, Hengtian Juxin (Shenzhen) Investment Center, holds 8.45% of the shares, totaling 360,000,000 shares[173] - The company reported a total of 400,000,444 shares held by Ningxia Zhongyin Rongye International Group Co., Ltd., representing a significant portion of the total shares[185] - The top ten shareholders include Hengtian Juxin (Shenzhen) Investment Center with 360,000,000 shares, indicating strong institutional support[185] Compliance and Regulations - The company has a排污许可证 valid until July 26, 2023, indicating compliance with environmental regulations[112] - The semi-annual financial report has not been audited[128] - The company has no significant non-compliance issues or penalties during the reporting period[130] - The company has complied with all relevant laws and regulations regarding the share repurchase[171]

Financial Performance - The company's operating revenue for Q1 2021 was ¥124,224,720.50, representing a 438.55% increase compared to ¥23,066,474.46 in the same period last year[9] - The net profit attributable to shareholders for Q1 2021 was ¥10,520,047.15, a 511.10% increase from ¥1,721,505.64 in the previous year[9] - The company reported a net profit excluding non-recurring gains and losses of ¥11,644,382.38, which is a 234.03% increase from ¥3,485,995.74 in the same period last year[9] - The total comprehensive income for the current period was CNY 10,835,970.30, compared to CNY 2,813,090.14 in the prior period, marking an increase of around 285.5%[64] - The company has shown a strong improvement in operating profit, which reached CNY 10,507,953.43, compared to CNY 1,730,556.17 in the previous period, indicating a growth of approximately 507.5%[60] - The net profit for the current period is 11,835,840.32, compared to a net loss of -3,514,606.68 in the previous period, indicating a significant turnaround[68] Cash Flow - The net cash flow from operating activities reached ¥60,855,427.78, marking a significant improvement of 652.70% from -¥11,010,494.14 in Q1 2020[9] - Cash inflow from operating activities amounts to 70,439,089.12, a substantial increase from 12,071,054.54 in the previous period[72] - The net cash flow from investing activities is -412,817,629.09, a decline from -13,110,760.51 in the previous period, suggesting a strategic focus on growth through investments[78] - The company has shown a significant improvement in cash flow management, with a net increase in cash and cash equivalents of -399,856,240.07 compared to an increase of 103,240,970.45 in the previous period[78] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,161,725,469.90, a decrease of 6.23% from ¥1,238,886,856.84 at the end of the previous year[9] - The total liabilities amounted to CNY 63,757,730.60, while total equity was CNY 1,033,620,646.86, indicating a debt-to-equity ratio of approximately 0.0615[54] - The company's total equity decreased from ¥1,129.04 million to ¥1,091.61 million, a decline of about 3.3%[47] - The company's fixed assets decreased from ¥1,334.76 million to ¥1,296.66 million, a decline of about 2.8%[41] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 34,875, with the top ten shareholders holding significant stakes in the company[12] - The company repurchased a total of 41,584,415 shares, accounting for 0.98% of the total share capital, with a total repurchase amount of ¥48,259,609.85[24] Inventory and Receivables - The company's inventory decreased by 22.01% to ¥96,099,369.19 as a result of sales[21] - Accounts receivable increased from ¥63.45 million to ¥89.50 million, reflecting a growth of about 40.9%[38] Financial Expenses and Investments - The company reported a significant increase in financial expenses, with a rise of 73.90% to -¥1,132,870.83, attributed to increased interest income from higher cash reserves[21] - The company has invested ¥40,000,000 in bank financial products, with no overdue amounts[30] - The company has introduced new stock investments, resulting in a significant increase in trading financial assets by 846,907.21% to ¥8,470,072.10[21] Other Financial Metrics - The weighted average return on equity for Q1 2021 was 0.93%, an increase of 0.77% compared to 0.16% in the previous year[9] - The company did not report any non-recurring gains or losses that were classified as regular gains or losses during the reporting period[9] - Research and development expenses were not explicitly detailed but are part of the overall operating costs, which increased significantly[57] Audit and Compliance - The first quarter report for 2021 was not audited, which may affect the reliability of the financial data presented[85] - The company did not apply the new leasing standards for the first quarter of 2021, as indicated in the financial statement adjustments[83]

Financial Performance - The company's operating revenue for 2020 was ¥141,569,708.11, a decrease of 80.19% compared to ¥714,586,655.30 in 2019[24] - The net profit attributable to shareholders for 2020 was ¥33,015,544.31, a significant recovery from a loss of ¥2,731,990,945.60 in 2019, representing a 101.21% increase[24] - The net cash flow from operating activities was -¥42,097,210.38, an improvement of 90.25% from -¥431,969,806.83 in the previous year[24] - Basic earnings per share for 2020 were ¥0.0077, a turnaround from -¥1.5135 in 2019, marking a 100.51% increase[24] - The total profit for the reporting period was 33.31 million yuan, an increase of 101.22% compared to the previous year[57] - The net profit attributable to the parent company was 33.02 million yuan, also up 101.21% year-on-year[57] - The company reported a significant drop in sales volume for cashmere yarn, down 98.48% to 16,972.71 kg from 1,118,738.33 kg in 2019[65] - The gross profit margin for the textile industry was 15.14%, down 80.43% year-on-year[64] Revenue Breakdown - The textile industry accounted for ¥139,871,594.91, representing 98.80% of total revenue, with a year-on-year decrease of 68.88%[60] - Revenue from non-fleece products was ¥101,079,898.09, which is 71.40% of total revenue, showing a significant increase of 70.64% compared to ¥5,414,383.81 in 2019[60] - Domestic revenue was ¥83,365,503.13, accounting for 58.89% of total revenue, with a year-on-year increase of 24.21%[63] Asset Management - The total assets at the end of 2020 were CNY 1,238,886,856.84, a decrease of 2.04% from CNY 1,264,636,101.23 at the end of 2019[27] - The company's equity attributable to shareholders increased by 2.55% to 1.13 billion yuan compared to the beginning of the period[57] - The net increase in cash and cash equivalents was ¥495,117,076.11, a significant increase of 326.40% year-on-year[82] - The company's cash flow from financing activities saw a net inflow of ¥613,179,429.83, reflecting a 5,058.06% increase compared to the previous year[79] Investment and Acquisitions - The company made a new investment of CNY 50 million in joint ventures during the reporting period[42] - The company acquired a 31.25% stake in Beijing Yongjing Cashmere for ¥50,000,000.00, which is expected to have a significant impact[90] - The company completed the acquisition of 100% equity in Beijing Junlan Investment for ¥30,000,000.00, with an expected loss of ¥77,015.98[90] Business Strategy and Outlook - The company aims to control cashmere supply and focus on cashmere-related product trade as part of its short-term operational strategy for 2020-2021[40] - The company plans to optimize its existing cashmere business and expand its cashmere trade scale in 2021, leveraging low debt and good liquidity conditions[109] - The company is adopting a dual-main business model, combining cashmere operations with industrial investments to enhance profitability[53] - The company faces risks such as declining raw material demand and price fluctuations in the cashmere market, which it plans to mitigate through careful inventory management[110] Corporate Governance and Compliance - The company has engaged Lixin Accounting Firm for internal control audit services, with an audit fee of 200,000 yuan for the year[134] - The company has committed to maintaining its independence in operations, finance, and personnel as part of its ongoing commitments to minority shareholders[124] - The company emphasizes compliance with national laws and regulations, ensuring timely tax payments and maintaining customer interests through contract management[167] Shareholder Information - The total number of shares is 4,261,877,053, with 100% being unrestricted shares[186] - The company has repurchased a total of 41,584,415 shares, accounting for 0.98% of the total share capital, with a total repurchase amount of approximately RMB 48.26 million[173] - The largest shareholder, Ningxia Zhongyin Wool Industry Co., Ltd., has a holding of 10.36%[199] Challenges and Risks - The company has faced significant risks and challenges, which are detailed in the future outlook section of the report[6] - The company is facing significant market uncertainties due to the impact of COVID-19 on cashmere demand and pricing, with prices dropping over 30% compared to the same period last year[50] - The company faced stock trading risk warnings due to fluctuations, which may impact investor confidence[41]

Financial Performance - Operating revenue for the reporting period was CNY 9,350,290.29, down 93.95% year-on-year, while revenue from the beginning of the year to the end of the reporting period was CNY 50,009,930.58, a decrease of 91.35%[9] - Net profit attributable to shareholders of the listed company for the reporting period was CNY 8,732,524.73, an increase of 107.92% year-on-year, with a cumulative net profit of CNY 16,168,988.01, up 102.35%[9] - Basic earnings per share for the reporting period were CNY 0.0020, an increase of 103.27% year-on-year, while diluted earnings per share were also CNY 0.0020[9] - Operating revenue decreased by 91.35% to CNY 50,009,930.58, significantly impacted by the company's bankruptcy restructuring and pandemic-related disruptions[22] - Operating profit for the current period is CNY 8,679,643.30, a significant improvement from a loss of CNY 93,546,368.50 in the previous period[67] - Net profit for the current period is CNY 8,732,524.73, compared to a net loss of CNY 110,707,085.33 in the previous period[67] - The net profit for the current period is a loss of CNY 6,516,997.41, compared to a loss of CNY 241,454,106.33 in the previous period, showing a significant improvement[92] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,198,718,399.18, a decrease of 5.21% compared to the end of the previous year[9] - The company's total assets as of September 30, 2020, were ¥1,198,718,399.18, down from ¥1,264,636,101.23, representing a decrease of approximately 5.2%[52] - The total liabilities remained stable at ¥82,944,212.98, compared to ¥163,674,301.73 in the previous year, indicating a significant reduction of approximately 49.3%[49] - Total liabilities amounted to ¥163,674,301.73, with current liabilities contributing ¥163,674,301.73[114] - The company's total equity is reported at ¥1,100,961,799.50, with a capital reserve of ¥4,464,046,492.41[114] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY -60,194,506.55, a decrease of 61.50%[9] - The cash flow from operating activities for the current period is a net outflow of CNY 60,194,506.55, an improvement from a net outflow of CNY 156,345,771.01 in the previous period[95] - The company reported a cash inflow from operating activities totaling CNY 342,779,221.88, down from CNY 834,241,646.93 in the previous period[95] - The total cash and cash equivalents decreased by 106,183,602.02 yuan during the reporting period, indicating challenges in maintaining liquidity[104] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 32,346[13] - The largest shareholder, Ningxia Zhongyin Wool Industry Group Co., Ltd., held 11.30% of the shares, totaling 481,496,444 shares[13] Operational Changes - The company continues to expedite the transfer of ownership for assets involved in bankruptcy restructuring, with some procedures still pending due to the pandemic[26] - The company aims to enhance its market expansion strategies and product development in the upcoming quarters[76] - Future guidance indicates a focus on improving operational efficiency and reducing costs to enhance profitability[76] Other Financial Metrics - The weighted average return on net assets was 0.78%, an increase of 117.91% compared to the same period last year[9] - The company reported non-operating income of CNY 1,199,561.28 from financial assets and derivatives during the reporting period[9] - The company received government subsidies amounting to CNY 290,401.95, which are closely related to its business[9] - Financial expenses dropped by 100.80% to -CNY 3,590,694.76, mainly due to a significant reduction in interest-bearing liabilities post-restructuring[24] - The company reported no derivative investments during the reporting period[33] - The company has not engaged in any significant external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[38][39] - The company has not conducted any fundraising investment projects during the reporting period[34]

Financial Performance - The company's operating revenue for the reporting period was CNY 40,659,640.29, a decrease of 90.40% compared to CNY 423,708,310.06 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was CNY 7,436,463.28, a significant increase of 101.29% from a net loss of CNY 577,452,086.34 in the previous year[16]. - The net cash flow from operating activities was CNY -202,085,279.47, worsening by 54.15% compared to CNY -131,098,590.84 in the same period last year[16]. - The basic earnings per share improved to CNY 0.0017 from CNY -0.3199, reflecting a 100.55% increase[16]. - The total profit for the period was ¥759,420, with a year-on-year increase of 101.32%[35]. - The company reported a net profit of approximately 13.43 million HKD for the period, with a revenue of about 40.66 million HKD[58]. - The total comprehensive income for the first half of 2020 was -6,471,384.94 CNY, compared to -179,417,287.51 CNY in the same period of 2019[137]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,197,484,584.55, down 5.31% from CNY 1,264,636,101.23 at the end of the previous year[16]. - The company's total assets at the end of the first half of 2020 were ¥11,740,132.89[156]. - The total liabilities decreased to CNY 88,007,864.01 from CNY 163,674,301.73, reflecting a reduction of about 46.3%[124][125]. - The company's equity attributable to shareholders increased slightly to CNY 1,109,476,720.54 from CNY 1,100,961,799.50, showing a growth of approximately 0.5%[125]. - The company's cash and cash equivalents decreased to CNY 320,044,361.87 from CNY 379,724,619.22, representing a decline of about 15.7%[122]. - Accounts receivable increased significantly to CNY 5,752,891.75 from CNY 868,277.69, marking a growth of approximately 563.5%[122]. Business Strategy and Operations - The company aims to focus on cashmere as its core business, enhancing its supply chain services and controlling raw cashmere supply to improve cost advantages[23]. - The company plans to optimize its existing cashmere business while expanding into "real estate investment; investment consulting, and enterprise management consulting and services" to create a dual main business model[26]. - The company has established a complete international sales network in countries like the UK, Italy, the US, Japan, and Cambodia, which will help in quickly restoring customer relationships[23]. - The company is undergoing a business model reconstruction after the asset divestiture, transitioning to a light asset operation model focused on supply chain services[24]. - The company has established partnerships with leading cashmere enterprises for raw material procurement, but the market remains uncertain due to the pandemic[34]. Challenges and Risks - The company has faced continuous net losses for two consecutive years, leading to a risk warning for delisting[4]. - The company faced challenges due to the COVID-19 pandemic, leading to a reduction in orders and impacting its cashmere product business significantly[25]. - The company has experienced a significant decline in cashmere prices, which, while beneficial for storage, has delayed sales and negatively impacted first-half performance[25]. - The company faced significant risks including a slowdown in the cashmere textile industry, with rising costs and declining profits impacting operations[60]. Corporate Governance and Compliance - The company has no media controversies or regulatory penalties during the reporting period[75][76]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[78]. - The company has not issued any public bonds that are due or unable to be fully redeemed as of the report date[118]. - The company has not reported any new product launches or technological advancements during this period[145]. Future Outlook - The company plans to continue expanding its market presence and product offerings in the upcoming quarters[150]. - The company is focusing on new product development and technological advancements to enhance competitiveness[150]. - The company aims to optimize its capital structure and improve return on equity in the future[150]. - The company is exploring potential mergers and acquisitions to accelerate growth and market expansion[150].

证券代码：000982 证券简称：*ST 中绒 公告编号：2020-53 宁夏中银绒业股份有限公司 关于举行2020年投资者网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 为持续提升辖区上市公司投资者关系管理水平，切实保护投资者合法权益，在 宁夏证监局、沪深交易所指导下，宁夏上市公司、深圳市全景网络有限公司定于 2020年7月9日举办"诚实守信，做受尊敬的上市公司—2020年宁夏辖区投资者网上 集体接待日活动"。宁夏中银绒业股份有限公司（以下简称"公司"）也将积极参 加上述活动，现将有关事项公告如下： 本次年度集体接待日将在深圳市全景网络有限公司提供的网上平台采取网络远 程的方式举行，投资者可以登录"宁夏辖区上市公司投资者关系互动平台"（网址： http://rs.p5w.net）参与交流，具体时间为2020年7月9日（星期四）下午 14:30-16:30 。为便于广大投资者更深入全面了解公司情况、发展战略、经营状况、 融资计划、股权激励、可持续发展等投资者所关心的问题，届时，公司董事长及相 关高管人员将通过公司投资者关系互动平台与投 ...

Financial Performance - The company's operating revenue for Q1 2020 was ¥23,066,474.46, a decrease of 89.87% compared to the same period last year[9] - The net profit attributable to shareholders was ¥1,721,505.64, a significant turnaround from a loss of ¥231,265,444.04 in the previous year, representing a 100.74% increase[9] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥3,485,995.74, compared to a loss of ¥228,568,732.81 last year, marking a 101.53% increase[9] - Basic earnings per share were ¥0.0004, compared to -¥0.1281 in the same period last year, reflecting a 100.32% increase[9] - The company reported a net loss of CNY -7,642,574,151.79 in retained earnings, a slight improvement from CNY -7,644,295,657.43[52] - The total comprehensive income for the current period is -3,514,606.68, compared to -141,004,676.60 in the previous period, indicating a significant reduction in losses[77] Cash Flow - The net cash flow from operating activities was -11,010,494.14, an improvement from -44,423,654.54 in the previous year[9] - Cash inflow from operating activities is 55,201,221.87, down from 396,694,258.70 in the previous period, indicating reduced operational cash generation[78] - Cash outflow from operating activities totals 66,211,716.01, compared to 441,117,913.24 in the previous period, showing a decrease in cash expenses[81] - The company recorded an investment cash inflow of 19,963,226.60, compared to 8,000.00 in the previous period, suggesting increased investment recovery[81] - The net cash flow from financing activities was 126,719,390.88 CNY, a significant increase compared to the previous period's net cash flow of 19,291,538.53 CNY[84] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,203,961,969.82, a decrease of 4.80% from ¥1,264,636,101.23 at the end of the previous year[9] - The total liabilities remained stable at CNY 100,187,080.18, compared to CNY 163,674,301.73 in the previous year[49] - Total assets decreased from ¥1,229,065,967.28 as of December 31, 2019, to ¥1,161,730,681.21 as of March 31, 2020, representing a decline of approximately 5.5%[53] - Total liabilities decreased from ¥159,974,659.61 to ¥96,153,980.22, a reduction of approximately 39.8%[59] Operational Metrics - Operating costs fell by 93.35% to ¥16,156,794.40 from ¥242,919,656.06, in line with the decrease in revenue[21] - The company reported a gross profit margin improvement, with gross profit for the first quarter of 2020 being ¥3,498,829.57[66] - Other comprehensive income for the first quarter of 2020 was ¥1,091,584.50, compared to a loss of ¥4,540,496.02 in the previous year[66] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 33,493[12] - The net assets attributable to shareholders were ¥1,103,774,889.64, a slight increase of 0.26% from ¥1,100,961,799.50 at the end of the previous year[9] - The company's equity attributable to shareholders increased slightly to CNY 1,103,774,889.64 from CNY 1,100,961,799.50[52] Financial Management - The company reported a fair value loss of -¥1,768,273.40 from financial assets and derivatives[9] - Financial expenses decreased by 100.46% to -¥651,455.45 from ¥141,195,682.99, due to the repayment of interest-bearing debts post-restructuring[21] - The company has reported a financial expense of -555,542.62, a decrease from 131,004,966.00 in the previous period, reflecting improved financial management[71]